If you’re confused about the current state of the economy and where it’s headed, you’re not alone. The United States is experiencing inflation at the highest rate since the 1980s, and most Americans generally feel as bad about the economy as they did during the Great Recession of 2008. At the same time, unemployment is low and wages are rising.

On today’s episode of “The Argument,” host Jane Coaston consults two economics reporters to break down these conflicting trends in the economy and to ask the question so many people want answered: Are things going to get worse before they get better?

Peter Coy is an Opinion writer for The New York Times. Alexandra Scaggs is a senior writer at Barron’s, where she covers bonds markets. Both have different takes on how the Federal Reserve can try to bring inflation down without long-term repercussions, including a recession. “There are people who would say, well, fine, that’s what needs to happen, if that’s what it takes to extinguish this high inflation, so be it,” Coy says. “And I’m just saying, I’m not willing to go that far.”

Mentioned in this episode:

• “Unemployment Is Low. That Doesn’t Mean the Economy Is Fine.” by Peter Coy in The New York Times
• “How Should Democrats Respond to Rising Inflation and High Gas Prices?” by John Cassidy in The New Yorker
• “Making Sense of a Complicated Economy,” EconoFact Chats episode from EconoFact

(A full transcript of the episode will be available midday on the Times website.)